A company insider recently sold 617,612 shares of Archrock Inc. [AROC]. Should You also Consider to Sale?


In a filing, Archrock Inc. revealed its 10% Owner Old Ocean Reserves, LP unloaded Company’s shares for reported $6.87 million on Feb 28. In the deal valued at $11.12 per share,617,612 shares were sold. As a result of this transaction, Old Ocean Reserves, LP now holds 15,555,014 shares worth roughly $ 173.75 million.

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Then, Old Ocean Reserves, LP sold 557,737 shares, generating $6,040,292 in total proceeds. Upon selling the shares at $10.83, the 10% Owner now owns 16,172,626 shares.

Before that, Old Ocean Reserves, LP sold 3,318 shares. Archrock Inc. shares valued at $33,512 were divested by the 10% Owner at a price of $10.10 per share. As a result of the transaction, Old Ocean Reserves, LP now holds 16,730,363 shares, worth roughly $186.88 million.

Raymond James initiated its Archrock Inc. [AROC] rating to an Outperform in a research note published on Monday, December 09, 2022; the price target was $10. PT values the company’s stock at a premium of -11.7 to its Monday closing price. A number of analysts have revised their coverage, including CapitalOne’s analysts, who decreased its forecast for the stock in early November from “an Overweight” to “an Equal weight”. Stifel began covering AROC with “Buy” recommendation on June 29, 2020. B. Riley FBR Inc. maintained its rating on May 22, 2018. It rated AROC as “a Buy”.

Price Performance Review of AROC

On Monday, Archrock Inc. [NYSE:AROC] saw its stock fall -2.53% to $11.17. On the same session, the stock had its day’s lowest price of $11.09, but rose to a high of $11.48. Over the last five days, the stock has gained 3.43%. Archrock Inc. shares have risen nearly 24.39% since the year began. Nevertheless, the stocks have risen 25.22% over the past one year. While a 52-week high of $11.49 was reached on 03/03/23, a 52-week low of $6.28 was recorded on 01/04/23. SMA at 50 days reached $9.60, while 200 days put it at $8.44. A total of 1.54 million shares were traded, compared to the trading of 1.48 million shares in the previous session.

Levels Of Support And Resistance For AROC Stock

The 24-hour chart illustrates a support level at 11.01, which if violated will result in even more drops to 10.86. On the upside, there is a resistance level at 11.40. A further resistance level may holdings at 11.64. The Relative Strength Index (RSI) on the 14-day chart is 67.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.92, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 13.50%. Stochastics %K at 94.78% indicates the stock is a selling.

How much short interest is there in Archrock Inc.?

A steep rise in short interest was recorded in Archrock Inc. stocks on Jan 12, 2023, dropping by -0.31 million shares to a total of 4.86 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 5.17 million shares. There was a decline of -6.38%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.18% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.04.

Archrock Inc. [AROC] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 21,797,870 shares, or roughly 14.01% of the outstanding AROC shares. In other words, the investor’s shares have fallen by -16,708 from its previous 13-F filing of 21814578.0. Additionally, The Vanguard Group, Inc. increased 1.37% of its stake after which the total value it holdings stand at $170,939,681, while EARNEST Partners LLC reduced -0.55% of its stake to hold $141.14 million in the firm. Over the last quarter, Dimensional Fund Advisors LP sold -323,276 shares of Archrock Inc., while Invesco Advisers, Inc. sold 205,864 shares. At present, Managed Account Advisors LLC is holding 6,838,001 shares valued at $67.76 million. SSgA Funds Management, Inc. owned 5,690,467 shares of the company at the time of its most recent 13F filing, worth $56.39 million.

According to FactSet, Archrock Inc.’s share price will average $13.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 13.44 percent from its previous closing price of $11.46. Analysts expect Archrock Inc. stock to reach the higher price of $15.00, while the lowest price estimate is $13.00. However, 3 analysts have rated AROC stock as a Buy in their predictions for 2023.


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